Chartered Semiconductor Manufacturing Ltd $300,000,000 6.25% Senior Notes due 2013 Underwriting Agreement
EXHIBIT 1.1
EXECUTION COPY
$300,000,000 6.25% Senior Notes due 2013
Underwriting Agreement
March 30, 2006
Xxxxxxx Xxxxx (Singapore) Pte.
0 Xxxxxxx Xxxx
#00-00 Xxxxx Xxxxx
Xxxxxxxxx 000000
0 Xxxxxxx Xxxx
#00-00 Xxxxx Xxxxx
Xxxxxxxxx 000000
as Representative for the several Underwriters
Ladies and Gentlemen:
Chartered Semiconductor Manufacturing Ltd, a corporation incorporated with limited liability
in Singapore (the “Company”), proposes to sell to the several underwriters named in Schedule 1
hereto (the “Underwriters”), for whom you (the “Representative”) are acting as representative,
$300,000,000 6.25% senior notes due 2013 (the “Securities”). The Securities are to be issued under
an indenture dated as of April 2, 2001, between the Company and Xxxxx Fargo Bank Minnesota, N.A.
(the “Base Indenture”), as supplemented by a Supplemental Indenture relating to the Securities (the
“Supplemental Indenture” and together with the Base Indenture, the “Indenture”) to be dated as of
the Closing Date (as defined below), between the Company and The Bank of New York, as trustee (the
“Trustee”). To the extent there are no additional Underwriters listed on Schedule 1 other than
you, the term Representative as used herein shall mean you, as Underwriters, and the terms
Representative and Underwriters shall mean either the singular or plural as the context requires.
In connection with the Offering (as defined below), the Company has received approval in
principle from the Singapore Exchange Securities Trading Limited (the “SGX-ST”) for the listing of
the Securities.
The offering of the Securities is referred to herein as the “Offering”. The Company has
appointed the Representative as sole lead manager of the Offering.
The use of the neuter in this Underwriting Agreement shall include the feminine and masculine
wherever appropriate. Any reference herein to the Registration
Statement, the Base Prospectus, any Preliminary Prospectus or the Final Prospectus shall be
deemed to refer to and include the documents incorporated by reference therein pursuant to Item 6
of Form F-3 which were filed under the Exchange Act on or
before the Effective Date of the
Registration Statement or the issue date of the Base Prospectus, any Preliminary Prospectus or the
Final Prospectus, as the case may be; and any reference herein to the terms “amend”, “amendment” or
“supplement” with respect to the Registration Statement, the Base Prospectus, any Preliminary
Prospectus or the Final Prospectus shall be deemed to refer to and include the filing of any
document under the Exchange Act after the Effective Date of the Registration Statement or the issue
date of the Base Prospectus, any Preliminary Prospectus or the Final Prospectus, as the case may
be, deemed to be incorporated therein by reference.
Certain terms used in this Underwriting Agreement are defined in Section 20 hereof.
1. Representations and Warranties. The Company represents and warrants to, and agrees
with, each Underwriter as set forth below in this Section 1.
(a) The Company meets the requirements for use of Form F-3 under the Act and has
prepared and filed with the Commission a registration statement (file number 333-56878) on
Form F-3, including a related Base Prospectus, for the registration under the Act of the
offering and sale of the Securities. The Company will next file with the Commission either
(1) after the Effective Date of the Registration Statement, a Preliminary Prospectus
relating to the Securities in accordance with Rule 424(b) or (2) a Final Prospectus in
accordance with Rules 415 and 424(b). The Company has included in the Registration
Statement, as amended at the Effective Date, all information required by the Act (other than
Rule 430B Information) and the rules thereunder to be included in the Registration
Statement. The Final Prospectus shall contain all Rule 430B Information and, except to the
extent the Representative shall agree to a modification, shall be in all substantive
respects in the form furnished to you prior to the Execution Time or, to the extent not
completed at the Execution Time, shall contain only such specific additional information and
other changes (beyond that contained in the Base Prospectus and any Preliminary Prospectus)
as agreed to by you, prior to the Execution Time, will be included or made therein, subject
to Section 5(a) hereof. The Registration Statement, at the Execution Time, is effective and
meets the requirements set forth in Rule 415(a)(1)(x). No stop order suspending the
effectiveness of the Registration Statement, or any post-effective amendment thereto, has
been issued and no proceeding for that purpose has been initiated or threatened by the
Commission.
(b) On the Effective Date, the Registration Statement did, and when the Final
Prospectus is first filed in accordance with Rule 424(b) and on the Closing Date, the Final
Prospectus (and any supplements thereto) will, comply in all material respects with the
applicable requirements of the Act, the Exchange Act and the Trust Indenture Act of 1939, as
amended (the “Trust Indenture
Act”), and the respective rules thereunder; on the Effective Date, the Registration
Statement did not or will not contain any untrue statement of a material fact or omit to
state any material fact required to be stated therein or necessary in order
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to make the
statements therein not misleading; on the Closing Date, the Indenture did or will comply in
all material respects with the applicable requirements of the Trust Indenture Act and the
rules thereunder; and at the Execution Time and on the Closing Date, the Disclosure Package
(as defined herein) will not, include any untrue statement of a material fact or omit to
state a material fact necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading; provided, however, that the
Company makes no representations or warranties as to (i) the Statement of Eligibility and
Qualification (Form T-1) under the Trust Indenture Act of the Trustee or (ii) the
information contained in or omitted from the Registration Statement or the Disclosure
Package (or any supplement thereto) in reliance upon and in conformity with information
furnished in writing to the Company by or on behalf of any Underwriter through the
Representative specifically for inclusion in the Registration Statement and the Disclosure
Package (or any supplement thereto).
(c) The documents incorporated or deemed to be incorporated by reference in the
Preliminary Prospectus and the Final Prospectus, at the time they were or hereafter are
filed with the Commission, complied and will comply in all material respects with the
requirements of the Exchange Act and the rules and regulations of the Commission thereunder,
and did not and will not contain any untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements therein, in
light of the circumstances under which they were made, not misleading.
(d) (i) At the earliest time after the filing of the registration statement relating to
the Securities that the Company or another offering participant made a bona fide offer
(within the meaning of Rule 164(h)(2)) of the Securities and (ii) as of the date of the
execution and delivery of this Underwriting Agreement (with such date being used as the
determination date for purposes of this clause (ii)), the Company was not and is not an
Ineligible Issuer (as defined in Rule 405), without taking account of any determination by
the Commission pursuant to Rule 405 that it is not necessary that the Company be considered
an Ineligible Issuer.
(e) No Issuer Free Writing Prospectus includes any information that conflicts with the
information contained in the Registration Statement, including any document incorporated by
reference therein and any prospectus supplement deemed to be a part thereof that has not
been superseded or modified. The foregoing sentence does not apply to statements in or
omissions from the Disclosure Package based upon and in conformity with written information
furnished to the Company by any Underwriter through the Representative specifically for use
therein.
(f) Neither the Company, any Subsidiary or, to the knowledge of the Company, Silicon
Manufacturing Partners Pte. Ltd. (“SMP”) has sustained since the date of the latest audited
financial statements included or incorporated by
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reference in the Disclosure Package any
material loss or interference with its business from fire, explosion, flood or other
calamity, whether or not covered by insurance, or from any labor dispute or court or
governmental action, order or decree, otherwise than as set forth or contemplated in the
Disclosure Package; and, since the respective dates as of which information is given in the
Registration Statement and the Disclosure Package, there has not been any change in the
share capital or long-term debt of the Company, the Subsidiaries or, to the knowledge of the
Company, SMP, or any material adverse change, or any development involving a prospective
material adverse change, in or affecting the condition (financial or otherwise), prospects,
earnings, business or properties of the Company, the Subsidiaries or, to the knowledge of
the Company, SMP, otherwise than as set forth or contemplated in the Disclosure Package.
(g) Each of the Company, the Subsidiaries and SMP has been duly incorporated and is
validly existing as a corporation under the laws of the jurisdiction in which it is
incorporated with full corporate power to own or lease, as the case may be, and to operate
its properties and conduct its business as described in the Disclosure Package, and is duly
qualified to do business as a foreign corporation and is in good standing under the laws of
each jurisdiction which requires such qualification, except where the failure to be so
qualified or be in good standing would not, individually or in the aggregate, have a
material adverse effect on the condition (financial or otherwise), prospects, earnings,
business or properties of the Company, the Subsidiaries and SMP, taken as a whole.
(h) All the outstanding share capital of the Company, each Subsidiary and SMP has been
duly and validly authorized and issued and is fully paid and non-assessable and, except for
such shares of (i) Chartered Silicon Partners Pte. Ltd. (“CSP”) as are owned by Avago
Technologies General IP (Singapore) Pte. Ltd., EDB Investments Pte. Ltd. or Singapex
Investments Pte. Ltd., which shares do not exceed 49% of the outstanding voting shares of
CSP and (ii) SMP as are owned by Agere Systems Singapore Pte. Ltd., which shares do not
exceed 51% of the outstanding voting shares of SMP, all the outstanding shares of the share
capital of the Subsidiaries and SMP are owned by the Company directly free and clear of any
perfected security interests, liens or encumbrances.
(i) The Company’s authorized, issued and outstanding equity capitalization is as set
forth in the Disclosure Package. The outstanding Ordinary Shares have been duly and validly
authorized and issued and are fully paid and non-assessable.
(j) The Securities have been duly authorized and, at the Closing Time, will have been
duly executed by the Company and, when authenticated, issued
and delivered in the manner provided for in the Indenture and delivered against payment
in full of the purchase price for the Securities, as provided in this Underwriting
Agreement, will constitute valid and binding obligations of the
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Company, enforceable against
the Company in accordance with their terms, except as the enforcement thereof may be limited
by bankruptcy, insolvency (including, without limitation, all laws relating to fraudulent
transfers), reorganization, moratorium or similar laws affecting enforcement of creditors’
rights generally and except as enforcement thereof is subject to general principles of
equity (regardless of whether enforcement is considered in a proceeding in equity or at
law), and will, in the form contemplated by, and entitled to the benefits of, the Indenture.
(k) The holders of outstanding shares of the share capital of the Company are not
entitled to any preemptive or other rights to subscribe for the Securities, except for such
rights that have been effectively waived. Except as disclosed in the Disclosure Package, no
options, warrants or other rights to purchase, agreements or other obligations to issue, or
rights to convert any obligations into or exchange any securities for, Ordinary Shares of or
ownership interests in the Company have been issued by the Company and are outstanding.
Subject to applicable securities laws, the Securities being sold by the Company are freely
transferable by the Company to or for the account of the several Underwriters, their
designees and the initial purchasers thereof. Except as is set forth in the Disclosure
Package, there are no restrictions on subsequent transfers of the Securities under the laws
of Singapore or of the United States.
(l) This Underwriting Agreement has been duly authorized, executed and delivered by the
Company.
(m) The Indenture has been duly authorized by the Company and duly qualified under the
Trust Indenture Act and, when duly executed and delivered by the Company and the Trustee,
will constitute a valid and binding agreement of the Company, enforceable against the
Company in accordance with its terms, except as the enforcement thereof may be limited by
bankruptcy, insolvency (including, without limitation, all laws relating to fraudulent
transfers), reorganization, moratorium or similar laws affecting enforcement of creditors’
rights generally and except as enforcement thereof is subject to general principles of
equity (regardless of whether enforcement is considered in a proceeding in equity or at
law).
(n) There is no franchise, contract or other document of a character required to be
described in the Registration Statement or the Disclosure Package, or to be filed as an
exhibit thereto, that is not described or has not been filed as required; and the
description of each such contract, franchise or document to be contained in the Disclosure
Package is a fair description thereof in all material respects; and each such franchise,
contract or other document to which the Company is a party, assuming due authorization,
execution and
delivery thereof by all parties thereto, is enforceable against the Company in
accordance with its terms and is in full force and effect, and to the Company’s knowledge,
is a legal, valid and binding obligation of the other parties thereto.
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(o) No taxes, imposts or duties of any nature (including, without limitation, stamp or
other issuance or transfer taxes or duties and capital gains, income, withholding or other
taxes, but excluding corporate income tax arising solely from their carrying on any business
in Singapore) are payable by or on behalf of the Underwriters to the Inland Revenue
Authority of Singapore or any other Singapore authority in connection with (A) the execution
and delivery of the Underwriting Agreement, (B) the issuance of the Securities by the
Company in connection with the Offering, (C) the sale and delivery of the Securities by the
Company to the Underwriters in accordance with this Underwriting Agreement, (D) except as is
described in the Disclosure Package, the initial resale and delivery of such Securities by
the Underwriters in the manner contemplated in the Disclosure Package.
(p) Except as described in the Disclosure Package, all payments on the Securities will
be made by the Company without withholding or deduction for or on account of any and all
taxes, duties or other charges or whatsoever nature (including, without limitation, income
taxes) imposed by Singapore or any political subdivision or taxing authority thereof or
therein.
(q) No consent, approval (including exchange control approval), authorization, filing
with or order of any court or governmental or regulatory agency or body is required under
Singapore or U.S. federal law or the laws of any state or political subdivision thereof in
connection with the execution and consummation by the Company of the transactions
contemplated in this Underwriting Agreement or the Indenture, except (A) such as have been
obtained under the Act, the Exchange Act and the Trust Indenture Act, (B) such as may be
required under the blue sky or similar laws of any jurisdiction in connection with the
Offering and in connection with purchase and distribution of the Securities by the
Underwriters in the manner contemplated in the Underwriting Agreement and as described in
the Disclosure Package, (C) such as may be required pursuant to the National Association of
Securities Dealers, Inc. rules and such as may be required pursuant to the rules of the
SGX-ST in connection with its granting approval in principle for the listing of and
quotation of the Securities, and (D) the submission of the Return on Debt Securities in
respect of the Securities to the Monetary Authority of Singapore and the Inland Revenue
Authority of Singapore by the Representative and the Company.
(r) None of the issue and sale of the Securities, the consummation of any other of the
transactions contemplated in this Underwriting Agreement or the Indenture, or the
fulfillment of the terms hereof or thereof will conflict with, result in a breach or
violation of, or imposition of any lien, charge or encumbrance upon any property or assets
of the Company, any of the Subsidiaries or SMP pursuant
to, (i) the Memorandum and Articles of Association of the Company or the constituent
documents of any of the Subsidiaries or SMP, (ii) the terms of any indenture, contract,
lease, mortgage, deed of trust, note agreement, loan
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agreement, permit, license, franchise
or other agreement, obligation, condition, covenant or instrument to which the Company, any
of the Subsidiaries or SMP is a party or bound or to which its or their property is subject,
or (iii) any statute, law, rule, regulation, judgment, order or decree applicable to the
Company, any of the Subsidiaries or SMP of any court, regulatory body, administrative
agency, governmental body, arbitrator or other authority having jurisdiction over the
Company, any of the Subsidiaries or SMP or any of its or their properties, and, except, with
respect to clause (ii) or (iii) above, such as would not individually or in the aggregate,
have a material adverse effect on (A) the performance of this Underwriting Agreement or the
consummation of any of the transactions contemplated herein or (B) the condition (financial
or otherwise), prospects, earnings, business or properties of the Company, the Subsidiaries
and SMP, taken as a whole.
(s) The Company is not and, after giving effect to the offering and sale of the
Securities and the application of the proceeds thereof as described in the Disclosure
Package, will not be an “investment company” as defined in the United States Investment
Company Act of 1940, as amended (the “1940 Act”).
(t) Other than Singapore Technologies Semiconductors Pte. Ltd., no holders of
securities of the Company have rights to the registration of such securities under the
Registration Statement.
(u) The consolidated historical financial statements and schedules of the Company
(including the related notes) included or incorporated by reference in the Disclosure
Package present fairly in all material respects the financial condition, results of
operations, changes in financial position and cash flows as of the dates and for the periods
indicated, comply as to form with the applicable accounting requirements of the Act and have
been prepared in conformity with United States generally accepted accounting principles
(“U.S. GAAP”) applied on a consistent basis throughout the periods indicated (except as
otherwise noted therein). The selected financial data included in the Registration Statement
and the Disclosure Package fairly present in all material respects, on the basis stated in
the Registration Statement and the Disclosure Package, the information included therein.
(v) The historical financial statements and schedules of SMP (including the related
notes) included or incorporated by reference in the Disclosure Package present fairly in all
material respects the financial condition, results of operations, changes in financial
position and cash flows as of the dates and for the periods indicated, comply as to form
with the applicable accounting requirements of the Act and have been prepared in conformity
with U.S. GAAP
applied on a consistent basis throughout the periods indicated (except as otherwise
noted therein).
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(w) No action, suit or proceeding by or before any court or governmental agency,
authority or body or any arbitrator involving the Company, any of the Subsidiaries or SMP or
its or their property is pending or, to the knowledge of the Company, threatened that (i)
could reasonably be expected to have a material adverse effect on the Offering, performance
of this Underwriting Agreement or the consummation of any of the transactions contemplated
hereby or (ii) could reasonably be expected to have a material adverse effect on the
condition (financial or otherwise), prospects, earnings, business or properties of the
Company, the Subsidiaries and SMP, taken as a whole, whether or not arising from
transactions in the ordinary course of business, except as set forth or contemplated in the
Disclosure Package.
(x) Each of the Company, the Subsidiaries and SMP owns or leases all such properties as
are necessary to the conduct of its operations as presently conducted. Any real property and
buildings held under lease by the Company, any of the Subsidiaries or SMP are held under
valid, subsisting and enforceable leases, with such exceptions as are not material and do
not interfere with the use made or proposed to be made of such property and buildings by the
Company, any of the Subsidiaries or SMP, in each case except as described in or contemplated
in the Disclosure Package.
(y) None of the Company, any of the Subsidiaries or, to the knowledge of the Company,
SMP, is in violation or default of (i) any provision of its Memorandum and Articles of
Association or other constituent documents, (ii) the terms of any indenture, contract,
lease, mortgage, deed of trust, note agreement, loan agreement or other agreement,
obligation, condition, covenant or instrument to which it is a party or bound or to which
its property is subject, or (iii) any statute, law, rule, regulation, judgment, order or
decree applicable to the Company, any of the Subsidiaries or SMP of any court, regulatory
body, administrative agency, governmental body, arbitrator or other authority having
jurisdiction over the Company, any of the Subsidiaries or SMP or any of its or their
properties, except, with respect to clause (ii) or (iii) above, such as would not,
individually or in the aggregate, have a material adverse effect on (A) the performance of
this Underwriting Agreement or the consummation of any of the transactions contemplated
herein or (B) the condition (financial or otherwise), prospects, earnings, business or
properties of the Company, the Subsidiaries and SMP, taken as a whole.
(z) KPMG (“KPMG”), who have audited certain financial statements of the Company and the
Subsidiaries and delivered their report with respect to the audited consolidated financial
statements and schedules that are included or incorporated by reference in the Registration
Statement and the Disclosure Package, are independent public accountants with respect to the
Company
within the meaning of the Act and the applicable published rules and regulations
thereunder.
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(aa) The Company has not taken, directly or indirectly, any action designed to cause or
to result in, or that has constituted or which might reasonably be expected to constitute
under the Exchange Act or otherwise, the stabilization or manipulation of the price of any
security of the Company to facilitate the sale or resale of the Securities; provided,
however, that this provision shall not apply to any trading or stabilization activities
conducted by the Underwriters.
(bb) Each of the Company, the Subsidiaries and, to the knowledge of the Company, SMP
possesses all licenses, permits, certificates and other authorizations issued by the
appropriate Singapore, U.S., foreign, federal, state or local regulatory authorities
necessary to conduct its business as currently conducted and to own or lease its properties,
except in any case in which the failure so to possess any such license, permit, certificate
or other authorization would not, individually or in the aggregate, have a material adverse
effect on the condition (financial or otherwise), prospects, earnings, business or
properties of the Company, the Subsidiaries and SMP, taken as a whole. Neither the Company,
any of the Subsidiaries nor, to the knowledge of the Company, SMP has received any notice of
proceedings relating to the revocation or modification of any such license, permit,
certificate or authorization which, singly or in the aggregate, if the subject of an
unfavorable decision ruling or findings, would have a material adverse effect on the
condition (financial or otherwise), prospects, earnings, business or properties of the
Company, the Subsidiaries and SMP, taken as a whole, whether or not arising from
transactions in the ordinary course of business, except as set forth in the Disclosure
Package.
(cc) Except as described in the Disclosure Package, for the periods described therein,
the Company and its Subsidiaries do not have any material capital commitments.
(dd) No labor dispute with the employees of the Company, any of the Subsidiaries or, to
the knowledge of the Company, SMP exists, or to the best knowledge of the Company, is
threatened, and the Company is not aware of any existing labor disturbance by the employees
of the Company, any of the Subsidiaries or, to the knowledge of the Company, SMP, that could
have a material adverse effect on the condition (financial or otherwise), prospects,
earnings, business or properties of the Company, the Subsidiaries and SMP, taken as a whole,
whether or not arising from transactions in the ordinary course of business, except as set
forth in or contemplated in the Disclosure Package.
(ee) Each of the Company, the Subsidiaries and, to the knowledge of the Company, SMP is
insured by insurers of recognized financial responsibility against such losses and risks and
in such amounts as are prudent and
customary in the businesses in which it is engaged. All policies of insurance insuring
the Company, any of the Subsidiaries or, to the knowledge of the Company, SMP or their
respective businesses, assets, employees, officers and
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directors are in full force and
effect; each of the Company, the Subsidiaries and, to the knowledge of the Company, SMP is
in compliance with the terms of such policies and instruments in all material respects; and
there are no claims by the Company, any of the Subsidiaries and, to the knowledge of the
Company, SMP under any such policy or instrument as to which any insurance company is
denying liability or defending under a reservation of rights clause. Neither the Company,
any of the Subsidiaries nor, to the knowledge of the Company, SMP has been refused any
insurance coverage sought or applied for. The Company has no reason to believe that, given
the current terms for renewal being generally agreed by the insurers, either the Company,
any of the Subsidiaries or, to the knowledge of the Company, SMP will not be able to renew
its existing insurance coverage as and when such coverage expires or to obtain similar
coverage from similar insurers as may be necessary to continue its business at a cost that
would not have a material adverse effect on the condition (financial or otherwise),
prospects, earnings, business or properties of the Company, the Subsidiaries and SMP, taken
as a whole, whether or not arising from transactions in the ordinary course of business,
except as set forth in or contemplated in the Disclosure Package.
(ff) None of the Subsidiaries and, to the knowledge of the Company, SMP is currently
prohibited, directly or indirectly, from paying any dividends to the Company, from making
any other distribution on its shares, from repaying to the Company any loans or advances to
it from the Company or from transferring any of its property or assets to the Company,
another Subsidiary or SMP, except for certain restrictions as set forth (i) in the Joint
Venture Agreement dated July 4, 1997 by and among the Company, Agilent Technologies Europe
B.V. and EDB Investments Pte. Ltd. (as amended) or as described in or contemplated in the
Disclosure Package, (ii) in the Memorandum and Articles of Association of SMP, (iii) in the
Credit Agreement dated September 28, 2000 (as amended) by and among Chartered Silicon
Partners Pte Ltd, the banks on the signature pages thereto, as Lenders, and ABN AMRO Bank
N.V. (Singapore Branch), as agent and security trustee, and in the related Subordination
Agreement dated June 28, 2002 by and among the Company, Chartered Silicon Partners Pte Ltd
and ABN AMRO Bank N.V. (Singapore Branch), as security trustee, (iv) in the Loan Agreement
dated June 27, 2002 by and among the Company and CSP, and (v) the Supplemental Agreement
dated September 28, 2003 by and among CSP, ABN Amro Bank N.V. (Singapore Branch), as agent
and security trustee, and the banks on the signature pages thereto.
(gg) The Company, the Subsidiaries and, to the knowledge of the Company, SMP own,
possess, license or have other rights to use, on reasonable terms, all patents, patent
applications, trademarks, service marks, trade and service xxxx registrations, trade names,
licenses, copyrights, inventions, trade
secrets, technology, know-how and other intellectual property (collectively, the
“Intellectual Property”) necessary for the conduct of the Company’s business as now
conducted, and as described in the Disclosure Package, except where the
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failure to so own,
possess, license or have other rights to use would not have a material adverse effect on the
condition (financial or otherwise), prospects, earnings, business or properties of the
Company, the Subsidiaries and SMP, taken as a whole, whether or not arising from the
ordinary course of business. Except as is set forth in the Disclosure Package under the
captions “Risk Factors” or “Business—Intellectual Property”, to the best knowledge of the
Company, (i) there are no rights of third parties to any such Intellectual Property; (ii)
there is no material infringement by third parties of any such Intellectual Property; (iii)
there is no pending or threatened action, suit, proceeding or claim by others challenging
the Company’s rights in or to any such Intellectual Property, and the Company is unaware of
any facts which would form a reasonable basis for any such claim; (iv) there is no pending
or threatened action, suit, proceeding or claim by others challenging the validity or scope
of any such Intellectual Property, and the Company is unaware of any facts which would form
a reasonable basis for any such claim; (v) there is no pending or threatened action, suit,
proceeding or claim by others that the Company infringes or otherwise violates any patent,
trademark, copyright, trade secret or other proprietary right of others in any Intellectual
Property, and the Company is unaware of any other fact which would form a reasonable basis
for any such claim; and (vi) there is no prior art of which the Company is aware that may
render any U.S. patent held by the Company invalid or any U.S. patent application held by
the Company unpatentable which has not been disclosed to the U.S. Patent and Trademark
Office, in the case of any of (i) through (vi) above, which would have a material adverse
effect on the condition (financial or otherwise), prospects, earnings, business or
properties of the Company, the Subsidiaries and SMP, taken as a whole, whether or not
arising from the ordinary course of business. The Underwriters acknowledge that SMP, being
51% owned by an affiliate of Agere Systems, Inc., would enjoy the benefit of the
Intellectual Property portfolio of Agere Systems, Inc.
(hh) The Company has filed all Singapore, U.S., foreign, federal, state and local tax
returns that are required to be filed or has requested extensions thereof, except in any
case in which the failure so to file would not have a material adverse effect on the
condition (financial or otherwise), prospects, earnings, business or properties of the
Company and the Subsidiaries, taken as a whole, whether or not arising from transactions in
the ordinary course of business, except as set forth in or contemplated in the Disclosure
Package and has paid all taxes required to be paid by it and any other assessment, fine or
penalty levied against it, to the extent that any of the foregoing is due and payable,
except for any such assessment, fine or penalty that is currently being contested in good
faith or as would not have a material adverse effect on the condition (financial or
otherwise), prospects, earnings, business or properties of the Company and the Subsidiaries,
taken as a whole, whether or not arising from
transactions in the ordinary course of business, except as set forth in or contemplated
in the Disclosure Package.
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(ii) No holder of Securities is or will be deemed to be resident, domiciled, carrying
on business or subject to taxation in Singapore solely by reason of the execution, delivery,
consummation or enforcement of this Underwriting Agreement.
(jj) Each of the Company and the Subsidiaries maintains a system of internal control
over financial reporting (as such term is defined in Rule 13a-15(f) of the Exchange Act)
that complies with the requirements of the Exchange Act, to provide reasonable assurance
that (i) transactions are executed in accordance with management’s general or specific
authorizations; (ii) transactions are recorded as necessary to permit preparation of
financial statements in conformity with U.S. GAAP and to maintain asset accountability;
(iii) access to assets is permitted only in accordance with management’s general or specific
authorization; and (iv) the recorded accountability for assets is compared with the existing
assets at reasonable intervals and appropriate action is taken with respect to any
differences. Since the end of the Company’s most recent audited fiscal year, there has been
no change in the Company’s internal control over financial reporting that has materially
affected, or is reasonably likely to materially affect, the Company’s internal control over
financial reporting.
(kk) The Company maintains disclosure controls and procedures (as such term is defined
in Rule 13a-15(e) of the Exchange Act) that comply with the requirements of the Exchange
Act, such disclosure controls and procedures have been designed to ensure that material
information relating to the Company and its Subsidiaries is made known to the Company’s
principal executive officer and principal financial officer by others within those entities.
(ll) The Company, the Subsidiaries and, to the knowledge of the Company, SMP, are (i)
in compliance with any and all Singapore laws and regulations relating to the protection of
human health and safety, the environment or hazardous or toxic substances or wastes,
pollutants or contaminants (“Environmental Laws”) applicable to conduct their respective
businesses, (ii) have received and are in compliance with all permits, licenses or other
approvals required of them under applicable Environmental Laws to conduct their respective
businesses and (iii) have not received notice of any actual or potential liability for the
investigation or remediation of any disposal or release of hazardous or toxic substances or
wastes, pollutants or contaminants, except where such non-compliance with Environmental
Laws, failure to receive required permits, licenses or other approvals, or liability would
not, individually or in the aggregate, have a material adverse effect on the condition
(financial or otherwise), prospects, earnings, business or properties of the Company, the
Subsidiaries and SMP, taken as a whole, whether or not arising from
transactions in the ordinary course of business, except as set forth in the Disclosure
Package.
12
(mm) Each of the Company and the Subsidiaries has fulfilled its obligations, if any,
under the minimum funding standards of Xxxxxxx 000 xx xxx Xxxxxx Xxxxxx Employee Retirement
Income Security Act of 1974 (“ERISA”) and the regulations and published interpretations
thereunder with respect to each “plan” (as defined in Section 3(3) of ERISA and such
regulations and published interpretations) in which employees of the Company and the
Subsidiaries are eligible to participate (other than any “multi-employer plan” within the
meaning of Section 4001(a)(3) of ERISA) and each such plan (other than any “multi-employer
plan” within the meaning of Section 4001(a)(3) of ERISA) is in compliance in all material
respects with the presently applicable provisions of ERISA and the United States Internal
Revenue Code of 1986, as amended, and such regulations and published interpretations, except
where such failure to fulfill or such non-compliance would not, individually or in the
aggregate, have a material adverse effect on the condition (financial or otherwise),
prospects, earnings, business or properties of the Company and the Subsidiaries, taken as a
whole. The Company and the Subsidiaries have not incurred any unpaid liability to the
Pension Benefit Guaranty Corporation (other than for the payment of premiums in the ordinary
course) or to any such plan under Title IV of ERISA, except such as would not, individually
or in the aggregate, have a material adverse effect on the condition (financial or
otherwise), prospects, earnings, business or properties of the Company and the Subsidiaries,
taken as a whole.
(nn) The Subsidiaries are the only significant subsidiaries of the Company as defined
by Rule 1.02 of Regulation S-X.
(oo) In preparing the Form 6-K submitted by the Company to the Commission on March 3,
2006 regarding the net income for the first quarter of 2006 that the Company expects to
record, the Company has considered all of the relevant economic and business factors. Any
assumptions underlying such were reasonable under the circumstances and were made by the
Company in good faith. The Company has no reason to believe that any such assumptions were
or will be materially incorrect, as of such date of submission or as of the date of this
representation, or that the Company will record basic earnings of less than $0.004 per
Ordinary Share.
(pp) The section entitled “Management’s Discussion and Analysis of Financial Condition
and Results of Operations” of the Preliminary Prospectus in the Disclosure Package
accurately and fully describes: (i) accounting policies which the Company believes are the
most important in the portrayal of the Company’s financial condition and results of
operations and which require management’s most difficult, subjective or complex judgments
(“critical accounting policies”); (ii) judgments and uncertainties affecting the application
of critical accounting policies, (iii) explanation of the likelihood that materially
different amounts would be reported under different conditions or using different
assumptions; and (iv) all material trends, demands, commitments, events,
13
uncertainties and
risks, and the potential effects thereof, that the Company believes would materially affect
liquidity and are reasonably likely to occur.
(qq) The statements set forth in the Disclosure Package and the Final Prospectus under
the captions “Description of Senior Notes”, insofar as they purport to constitute a summary
of the terms of the Securities, are accurate, complete and fair.
(rr) All material transactions between the Company, on the one hand, and (A) any of its
directors, executive officers, shareholders or affiliates thereof, (B) any director,
executive officer, shareholder or affiliate of any of the Company’s shareholders or
affiliates thereof, or (C) any director or executive officer of any entity in which any
director or executive officer of the Company is a manager or holds more than 5% of its
outstanding equity securities or its respective assets, on the other hand, are fully and
fairly described in the Disclosure Package and each such transaction is on terms no less
favorable to the Company as could be obtained with an unaffiliated third party.
Any certificate signed by any officer of the Company or any of the Subsidiaries, in his or her
capacity as an officer of the Company or any of the Subsidiaries, and delivered to you or counsel
for the Underwriters in connection with this Underwriting Agreement shall be deemed to be a
representation and warranty by the Company to each Underwriter as to the matters covered thereby.
2. Purchase and Sale. Subject to the terms and conditions and in reliance upon the
representations and warranties set forth in this Underwriting Agreement, the Company agrees to sell
to each Underwriter, and each Underwriter agrees, severally and not jointly, to purchase from the
Company, at a purchase price of 99.053% of the principal amount thereof, less an underwriting
discount of 0.50% of the principal amount thereof, the principal amount of the Securities set forth
opposite such Underwriter’s name in Schedule 1 to this Underwriting Agreement.
3. Delivery and Payment. Delivery of and payment for the Securities shall be made at
10 AM, New York City time, on April 4, 2006 or such later date not later than three Business Days
after the foregoing date as the Representative shall designate, which date and time may be
postponed by agreement between the Representative and the Company or as provided in Section 7
hereof (such date and time of delivery and payment for the Securities being herein called in this
Underwriting Agreement, the “Closing Date”).
Delivery of the Securities shall be made to the Representative for the respective accounts of
the several Underwriters against payment by the several Underwriters through the Representative of
the purchase price thereof to or upon the order of the Company by wire transfer payable in same day
funds to an account
specified by the Company. Delivery of the Securities shall be made through the facilities
14
of
The Depository Trust Company unless the Representative shall otherwise instruct at least one
Business Day in advance of the Closing Date.
The Company will make the Securities in global form (the “Global Certificates”) available for
checking at least twenty-four hours prior to the Closing Date at the office of Xxxxxx Xxxxxxxx
Xxxxx & Xxxxxxxx LLP, 39th Floor, Bank of China Tower, One Garden Road, Hong Kong.
4. Offering by Underwriters. It is understood that the Underwriters propose to offer
the Securities for sale to the U.S. public as set forth in the Final Prospectus.
5. Agreements. The Company agrees with the several Underwriters
that:
(a) The Company will use its best efforts to cause any amendment of the Registration
Statement to become effective as promptly as practicable. Prior to the termination or
completion of the Offering, the Company will not file any amendment of the Registration
Statement or supplement (including the Final Prospectus or any Preliminary Prospectus) to
the Base Prospectus or any Rule 462(b) Registration Statement unless the Company has
furnished you a copy for your review prior to filing and will not file any such proposed
amendment or supplement to which you reasonably object. Subject to the foregoing sentence,
the Company will cause the Final Prospectus, properly completed, and any supplement thereto
to be filed with the Commission pursuant to the applicable paragraph of Rule 424(b) within
the time period prescribed and will provide evidence satisfactory to the Representative of
such timely filing. The Company will promptly advise the Representative (1) when the Final
Prospectus, and any supplement thereto, shall have been filed with the Commission pursuant
to Rule 424(b) or when any Rule 462(b) Registration Statement shall have been filed with the
Commission, (2) when, prior to termination of the offering of the Securities, any amendment
to the Registration Statement shall have been filed or become effective, (3) of any request
by the Commission or its staff for any amendment of the Registration Statement, or any Rule
462(b) Registration Statement, or for any supplement to the Final Prospectus or for any
additional information, (4) of the issuance by the Commission of any stop order suspending
the effectiveness of the Registration Statement or the initiation or threatening of any
proceeding for that purpose and (5) of the receipt by the Company of any notification with
respect to the suspension of the qualification of the Securities for sale in any
jurisdiction or the initiation or threatening of any proceeding for such purpose. The
Company will use its best efforts to prevent the issuance of any such stop order or the
suspension of any such qualification and, if issued, to obtain as soon as possible the
withdrawal thereof.
(b) If, at any time when a prospectus relating to the Securities is required to be
delivered under the Act (including in circumstances where such
15
requirement may be satisfied
pursuant to Rule 172), any event occurs as a result of which either the Disclosure Package
or the Final Prospectus as then supplemented would include any untrue statement of a
material fact or omit to state any material fact necessary to make the statements therein in
the light of the circumstances under which they were made not misleading, or if it shall be
necessary to amend the Registration Statement, file a new registration statement or
supplement the Final Prospectus to comply with the Act or the Exchange Act or the respective
rules thereunder or any applicable securities law, the Company promptly and without charge
to the Underwriters will (1) notify the Representative of such event, (2) prepare and, if
required, file with the Commission, subject to the second sentence of Section 5(a) or
Section 5(h), as applicable, an amendment or supplement or Issuer Free Writing Prospectus or
new registration statement which will correct such statement or omission or effect such
compliance; and (3) supply any amended or supplemented Final Prospectus or Issuer Free
Writing Prospectus to you in such quantities as you may reasonably request.
(c) As soon as practicable, the Company will timely file such reports pursuant to the
Exchange Act as are necessary in order to make generally available to its security holders
and to the Representative an earnings statement or statements of the Company and the
Subsidiaries which will satisfy the provisions of Section 11(a) of the Act and Rule 158
under the Act.
(d) The Company will furnish to the Representative and counsel for the Underwriters,
without charge, signed copies of the Preliminary Prospectus and Final Prospectus and copies
of the Registration Statement (including exhibits thereto) and to each other Underwriter a
copy of the Registration Statement (without exhibits thereto), and, so long as delivery of a
prospectus by an Underwriter or dealer may be required by the Act (including in
circumstances where such requirement may be satisfied pursuant to Rule 172), as many copies
of each Preliminary Prospectus, the Final Prospectus and each Issuer Free Writing Prospectus
and any supplement thereto as the Representative may reasonably request.
(e) The Company will arrange, if necessary, for the qualification of the Securities for
sale under the laws of such jurisdictions as the Representative may designate and will
maintain such qualifications in effect so long as required for the distribution of the
Securities; provided, however, that in no event shall the Company be obligated to qualify to
do business in any jurisdiction where it is not now so qualified or to take any action that
would subject it to service of process in suits, other than those arising out of the
offering or sale of the Securities, in any jurisdiction where it is not now so subject.
(f) The Company will prepare a final term sheet, containing a description of the
Securities, in a form approved by the Representatives (the
16
“Final Term Sheet”) and will file
the Final Term Sheet pursuant to Rule 433(d) within the time required by such rule.
(g) The Company will comply with the requirements of the SGX-ST, the Accounting and
Corporate Regulatory Authority in Singapore and the Monetary Authority of Singapore in
connection with the Offering.
(h) The Company represents and agrees that, unless it obtains the prior written consent
of the Representative, and each Underwriter, severally and not jointly, represents and
agrees with the Company that, unless such Underwriter has obtained or will obtain, as the
case may be, the prior written consent of the Company, it has not made and will not make any
offer relating to the Securities that constitutes or would constitute an Issuer Free Writing
Prospectus or that otherwise constitutes or would constitute a Free Writing Prospectus
required to be filed by the Company with the Commission or retained by the Company under
Rule 433; provided that the prior written consent of the parties hereto shall be deemed to
have been given in respect of the Free Writing Prospectuses included in Schedule 2 hereto,
any electronic road show that has been approved by the Company and one or more term sheets
containing customary information relating to the proposed or final terms of the Securities
that are conveyed by the Underwriters to prospective purchasers of the Securities. Any such
free writing prospectus consented to by the Representative or the Company is hereinafter
referred to as a “Permitted Free Writing Prospectus.” The Company agrees that (x) it has
treated and will treat, as the case may be, each Permitted Free Writing Prospectus as an
Issuer Free Writing Prospectus, and (y) has complied and will comply, as the case may be,
with the requirements of Rules 164 and 433 applicable to any Permitted Free Writing
Prospectus, including in respect of timely filing with the Commission, legending and record
keeping.
(i) The Company agrees to pay the costs and expenses relating to the following matters:
(i) the fees and expenses of its counsel (including local counsel) and accountants in
connection with the Offering, including issuance of the Securities, (ii) the preparation,
printing or reproduction and filing with the Commission of any necessary amendments to the
Registration Statement (including financial statements and exhibits thereto), the
Preliminary Prospectus, the Final Prospectus, the Final Term Sheet and each amendment or
supplement to any of them and mailing and delivering (including postage, air freight charges
and charges for counting and packing) copies thereof to the initial purchasers and dealers;
(iii) the fees and expenses of the Trustee under the Indenture, (iv) the cost of producing
any Blue Sky Memorandum, the closing documents (including compilations thereof) and any
other documents in connection with the offering and sale of the Securities by the
Underwriters; (v) all expenses in connection with the qualification of the Securities for
offering under the securities
laws of any jurisdiction as the Company and the Underwriters may agree to, including
any Blue Sky survey; (vi) all expenses relating to the physical road
17
show for the offering
of the Securities, including, but not limited to, the transportation and other expenses
incurred by or on behalf of Company representatives and the Underwriters in connection with
presentations to prospective purchasers of the Securities; (vii) the preparation, printing,
authentication, issuance and delivery of certificates for the Securities, including any
stamp or transfer taxes in connection with the original issuance and sale of the Securities;
(viii) the registration of the Securities under the Exchange Act and the listing of the
Securities on the SGX-ST; (ix) any filings required to be made with the National Association
of Securities Dealers, Inc. (the “NASD”); (x) the fees and expenses, if any, of the
Company’s Authorized Agent (as defined in Section 13 hereof); (xi) the cost and charges of
any transfer agent or registrar; (xii) all costs incurred in connection with obtaining
credit ratings for the Securities, and (xiii) all other costs and expenses incident to the
performance by the Company of its obligations under this Underwriting Agreement.
(j) The Company will not take, directly or indirectly, any action designed to or which
has constituted or which might reasonably be expected to cause or result in, under the
Exchange Act or otherwise, stabilization or manipulation of the price of any security of the
Company to facilitate the sale or resale of the Securities.
(k) The Company will use its best efforts to cause, as soon as possible on or after the
Closing Date, the Securities to be listed on the SGX-ST.
(l) (i) The purchase and sale of the Securities pursuant to this Underwriting Agreement
is an arm’s-length commercial transaction between the Company, on the one hand, and the
several Underwriters, on the other, (ii) in connection therewith and with the process
leading to such transaction each Underwriter is acting solely as a principal and not the
agent or fiduciary of the Company, (iii) no Underwriter has assumed an advisory or fiduciary
responsibility in favor of the Company with respect to the offering contemplated hereby or
the process leading thereto (irrespective of whether such Underwriter has advised or is
currently advising the Company on other matters) or any other obligation to the Company
except the obligations expressly set forth in this Underwriting Agreement and (iv) the
Company has consulted its own legal and financial advisors to the extent it deemed
appropriate. The Company agrees that it will not claim that the Underwriters, or any of
them, has rendered advisory services of any nature or respect, or owes a fiduciary or
similar duty to the Company, in connection with such transaction or the process leading
thereto.
6. Conditions to the Obligations of the Underwriters. The obligations of the
Underwriters to purchase the Securities shall be subject to the accuracy of the representations and
warranties on the part of the Company contained in this Underwriting Agreement as of the Execution
Time, to the accuracy of the statements of
the Company made in any certificates pursuant to the provisions hereof, to the
18
performance by
the Company of its obligations under this Underwriting Agreement and to the following additional
conditions:
(a) The Final Prospectus and any supplement thereto required to be filed pursuant to
Rule 424(b), shall have been filed in the manner and within the time period required by Rule
424(b); no stop order suspending the effectiveness of the Registration Statement shall have
been issued and no proceedings for that purpose shall have been instituted or threatened;
and the Final Term Sheet and any other material required to be filed by the Company pursuant
to Rule 433(d) shall have been filed with the Commission within the applicable time periods
prescribed for such filings by Rule 433.
(b) The Company shall have furnished to the Representative the opinion of Xxxxx &
Xxxxxxxx, Singapore counsel for the Company, dated the Closing Date, substantially in the
form set forth in Appendix A. In rendering such opinion, such counsel may rely (A) as to
matters involving the application of the federal laws of the United States and the laws of
the State of New York, to the extent they deem proper and specified in such opinion, upon
the opinion of Xxxxxx & Xxxxxxx LLP and (B) as to matters of fact, to the extent they deem
proper, on certificates of responsible officers of the Company and public officials.
References to the Final Prospectus in the opinion to be given pursuant to this paragraph (b)
include any supplements thereto at the Closing Date.
(c) The Company shall have furnished to the Representative the opinion of Xxxxxx &
Xxxxxxx LLP, United States counsel for the Company, dated the Closing Date, substantially in
the form of Appendix B. In rendering such opinion, such counsel may rely (A) as to matters
involving the application of Singapore law, to the extent they deem proper and specified in
such opinion, upon the opinion of Xxxxx & Xxxxxxxx and (B) as to matters of fact, to the
extent they deem proper, on certificates of responsible officers of the Company and public
officials. References to the Final Prospectus in the opinion to be given pursuant to this
paragraph (c) include any supplements thereto at the Closing Date.
(d) The Company shall have furnished to the Representative the opinion of Xxxxxxxx
Chance, counsel for the Trustee, dated the Closing Date, in form and substance satisfactory
to the Representative, to the effect that:
(i) the Trustee is a national banking association duly organized, validly
existing and in good standing under the laws of the United States of America and has
the corporate power and authority to enter into and perform its obligations under
the Indenture;
(ii) each of the Indenture and the Supplemental Indenture has been duly
authorized, executed and delivered by the Trustee and
constitutes the legal, valid and binding agreement of the Trustee
19
enforceable against the Company in accordance with its terms, except as the enforcement thereof
may be limited by bankruptcy, insolvency (including, without limitation, all laws
relating to fraudulent transfers), reorganization, moratorium or similar laws
affecting enforcement of creditors’ rights generally and except as enforcement
thereof is subject to general principles of equity (regardless of whether
enforcement is considered in a proceeding in equity or at law); and
(iii) the Trustee has duly executed the authentication upon the Securities.
References to the Final Prospectus in the opinion to be given pursuant to this paragraph (d)
include any supplements thereto at the Closing Date.
(e) The Representative shall have received from Xxxxxx Xxxxxxxx Xxxxx & Xxxxxxxx LLP,
counsel for the Underwriters, such opinion or opinions, dated the Closing Date, and
addressed to the Representative, with respect to the issuance and sale of the Securities,
the Registration Statement, the Final Prospectus (together with any supplement thereto) and
other related matters as the Representative may reasonably require, in form and substance
satisfactory to the Representative, and the Company shall have furnished to such counsel
such documents as they reasonably request for the purpose of enabling them to pass upon such
matters.
(f) The Representative shall have received from Xxxx Partnership, Singapore counsel for
the Underwriters, such opinion or opinions, dated the Closing Date, and addressed to the
Representative, with respect to Singapore law matters, in form and substance satisfactory to
the Representative, and the Company shall have furnished to such counsel such documents as
they reasonably request for the purpose of enabling them to pass upon such matters.
(g) The Company shall have furnished to the Representative a certificate of the Company
dated the Closing Date, signed by the Chairman of the Board or the President and Chief
Executive Officer and the principal financial or accounting officer of the Company,
satisfactory to the Representative and to the effect that the signers of such certificate
have carefully examined the Registration Statement, the Disclosure Package, the Final
Prospectus, any supplements to the Final Prospectus and the Underwriting Agreement and that:
(i) the representations and warranties of the Company in the Underwriting
Agreement are true and correct in all material respects on and as of the Closing
Date with the same effect as if made on such date and the Company has complied with
all the agreements and satisfied all the conditions on its part to be performed or
satisfied at or prior to the Closing Date;
20
(ii) no stop order suspending the effectiveness of the Registration Statement,
or any post-effective amendment thereto, has been issued and no proceedings for that
purpose have been instituted or, to the Company’s knowledge, threatened; and
(iii) since the date of the most recent financial statements included or
incorporated by reference in the Disclosure Package, there has been no material
adverse change in the condition (financial or otherwise), prospects, earnings,
business or properties of the Company and the Subsidiaries, taken as a whole,
whether or not arising from transactions in the ordinary course of business, except
as set forth in or contemplated in the Disclosure Package.
(h) KPMG shall have furnished to the Representative, at the Execution Time and at the
Closing Date, letters dated respectively as of the Execution Time and the Closing Date, in
form and substance satisfactory to the Representative, confirming that they are independent
accountants within the meaning of the Act and the respective applicable rules and
regulations adopted by the Commission thereunder and stating in effect that:
(i) in their opinion the audited consolidated financial statements incorporated
by reference in the Registration Statement and the Preliminary Prospectus and
reported on by them comply as to form in all material respects with the applicable
accounting requirements of the Act and the Exchange Act and the related rules and
regulations adopted by the Commission;
(ii) with respect to the period from January 1, 2006, to February 28, 2006, on
the basis of a reading of the unaudited consolidated financial statements of the
Company for January and February for both 2005 and 2006 and inquiries of certain
officials of the Company who have responsibility for financial and accounting
matters, nothing came to their attention which caused them to believe that (A) at
February 28, 2006, there was any decrease in the share capital, increase in
consolidated long-term debt or consolidated short-term debt or in total consolidated
current liabilities, or any decreases in consolidated net current assets or
consolidated shareholders’ equity of the consolidated companies as compared with
amounts shown in the December 31, 2005 audited consolidated balance sheet
incorporated by reference in the Preliminary Prospectus or (B) for the period from
January 1, 2006, to February 28, 2006, any decreases, as compared with the
corresponding period in the preceding year, in consolidated net revenue or in the
total or per-share amounts of consolidated net income; and
(iii) they have performed certain other specified procedures with respect to
whether (A) at a specified date not more than five business
21
days prior to the date
of the letter, there was any decrease in the consolidated share capital of the
Company or any increase in consolidated long-term debt or consolidated short-term
debt or in total consolidated current liabilities, or decrease in consolidated net
current assets or consolidated shareholders’ equity, as compared with the amounts
shown in the December 31, 2005 audited consolidated balance sheet incorporated by
reference in the Preliminary Prospectus, or (B) for the period from January 1, 2006
to a specified date not more than five business days prior to the date of the
letter, there was any decrease, as compared with the corresponding period in the
preceding year, in consolidated net revenue or in the total or per-share amounts of
consolidated net income;
(iv) they have performed certain other specified procedures as a result of
which they determined that certain information of an accounting, financial or
statistical nature derived from the general accounting records of the Company and
Chartered Semiconductor Manufacturing Inc. set forth in the Registration Statement
and the Preliminary Prospectus, including the information set forth under the
captions “Risk Factors”, “Use of Proceeds” and “Capitalization”, and such other
captions as the Company and the Representative shall agree to, in the Preliminary
Prospectus and the information included in Items 3, 4, 5, 6, 7, 8, 10 and 11 of the
Company’s annual report for 2005 on Form 20-F, all incorporated by reference in the
Registration Statement and the Preliminary Prospectus, agrees with or is recomputed
from the accounting records of the Company and the Subsidiaries, excluding any
questions of legal interpretation. References to the Preliminary Prospectus in this
paragraph (h) include any supplement thereto at the date of the letter.
(i) (i) Since the date of the latest audited financial statements included in the
Disclosure Package, there shall not have been any loss or interference with the Company’s,
the Subsidiaries’ or, to the knowledge of the Company, SMP’s business from fire, explosion,
flood or other calamity, whether or not covered by insurance, or from any labor dispute or
court or governmental action, order or decree or (ii) since the respective dates as of which
information is given in the Disclosure Package, there shall not have been any change in the
share capital or long-term debt of the Company, the Subsidiaries or, to the knowledge of the
Company, SMP, or any change, or any development involving a prospective change, in or
affecting the condition (financial or otherwise), prospects, earnings, business or
properties of the Company, the Subsidiaries or, to the knowledge of the Company, SMP, in
each case, except as set forth in or contemplated in the Disclosure Package the effect of
which, in any case referred to in clause (i) or (ii) above, is, in the sole judgment of the
Representative, so
material and adverse as to make it impractical or inadvisable to proceed with the
offering or delivery of the Securities as contemplated by the Disclosure Package.
22
(j) On or after the Execution Time, (i) no downgrading shall have occurred in any
rating accorded any of the Company’s debt securities by any “nationally recognized
statistical rating organization”, as that term is defined by the Commission for purposes of
Rule 436(g)(2) under the Act, (ii) no such organization shall have publicly announced that
it has under surveillance or review, with possible negative implications, its rating of any
of the Company’s debt securities and (iii) in respect of the Company’s long-term foreign
currency rating and the Securities, the ratings assigned by Xxxxx’x Investor Service, Inc.
and Standard & Poor’s shall not be less than Baa3/stable and BBB-/stable, respectively.
(k) On or after the Execution Time there shall not have occurred any of the following:
(i) a suspension or material limitation in trading in securities generally on the Nasdaq,
the London Stock Exchange or the SGX-ST; (ii) a suspension or material limitation in trading
in the Company’s securities on the Nasdaq or SGX-ST; (iii) a general moratorium on
commercial banking activities in New York, London or Singapore declared by the relevant
authorities, or a material disruption in commercial banking or securities settlement or
clearance services in the United States or Singapore; (iv) a change or development involving
a prospective change in Singapore taxation affecting the Company, the Securities or the
transfer thereof; (v) the outbreak or escalation of hostilities involving the United States,
the United Kingdom or Singapore or the declaration by the United States, the United Kingdom
or Singapore of a national emergency or war; or (vi) the occurrence of any other calamity or
crisis or any change in financial, political or economic conditions or currency exchange
rates or controls in the United States, the United Kingdom, Singapore or elsewhere, if the
effect of any such event specified in clause (v) or (vi) in the judgment of the
Representative makes it impracticable or inadvisable to proceed with the public offering or
the delivery of the Securities on the terms and in the manner contemplated in the Disclosure
Package.
(l) The approval in principle for the listing and quotation of the Securities on the
SGX-ST shall not have been revoked or amended and, where such approval is subject to
conditions, such conditions shall be acceptable to the Representative and where such
conditions are required to be fulfilled on or before the Closing Date, they are so
fulfilled, and satisfactory evidence of all such actions shall have been provided to the
Representative.
(m) The Global Certificates shall have been designated as eligible for clearance and
settlement through the Depository Trust Company on or prior to the Closing Date.
(n) Prior to the Closing Date, the Company shall have furnished to the Representative
such further information, certificates and documents as the Representative may reasonably
request.
23
If any of the conditions specified in this Section 6 shall not have been fulfilled in all
material respects when and as provided in this Underwriting Agreement, or if any of the opinions
and certificates mentioned above or elsewhere in this Underwriting Agreement shall not be in all
material respects reasonably satisfactory in form and substance to the Representative and counsel
for the Underwriters, this Underwriting Agreement and all obligations of the Underwriters hereunder
may be cancelled at any time prior to the Closing Date by the Representative. Notice of such
cancellation shall be given to the Company in writing or by telephone or facsimile confirmed in
writing. The documents required to be delivered by this Section 6 will be delivered at the offices
of Xxxxxx Xxxxxxxx Xxxxx & Xxxxxxxx LLP, counsel for the Underwriters, at 39th Floor, Bank of China
Tower, One Garden Road, Central, Hong Kong, by 11 a.m., Singapore time, on the Closing Date.
7. Indemnification and Contribution.
(a) The Company will indemnify and hold harmless each Underwriter and each
Underwriter’s affiliates (as defined in Rule 501(b) under the Act) against any losses,
claims, damages or liabilities, joint or several, to which such Underwriter may become
subject, under the Act or otherwise, insofar as such losses, claims, damages or liabilities
(or actions in respect thereof) arise out of or are based upon an untrue statement or
alleged untrue statement of a material fact contained in the Registration Statement, the
Disclosure Package, the Final Prospectus, or any amendment thereof or supplement thereto, or
any Permitted Free Writing Prospectus, or any Issuer Free Writing Prospectus that the
Company has filed or is required to file pursuant to Rule 433(d) under the Act, or arise out
of or are based upon the omission or alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein not misleading,
and will reimburse each Underwriter for any legal or other expenses reasonably incurred by
such Underwriter in connection with investigating or defending any such action or claim as
such expenses are incurred; provided, however, that the Company shall not be liable in any
such case to the extent that any such loss, claim, damage or liability arises out of or is
based upon an untrue statement or alleged untrue statement or omission or alleged omission
made therein in reliance upon and in conformity with written information furnished to the
Company by any Underwriter of Securities through the Representative expressly for use
therein.
(b) Each Underwriter will, severally and not jointly, indemnify and hold harmless the
Company and its affiliates (as defined in Rule 501(b) under the Act) of the Company against
any losses, claims, damages or liabilities to which the Company may become subject, under
the Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in
respect thereof) arise out of or
are based upon an untrue statement or alleged untrue statement of a material fact
contained in the Registration Statement, the Disclosure Package, the Final Prospectus, or
any amendment thereof or supplement thereto, or any Permitted Free Writing Prospectus, or
any Issuer Free Writing Prospectus that the
24
Company has filed or is required to file
pursuant to Rule 433(d) under the Act, or arise out of or are based upon the omission or
alleged omission to state therein a material fact required to be stated therein or necessary
to make the statements therein not misleading, in each case to the extent, but only to the
extent, that such untrue statement or alleged untrue statement or omission or alleged
omission was made therein in reliance upon and in conformity with written information
furnished to the Company by such Underwriter through the Representative expressly for use
therein; and will reimburse the Company for any legal or other expenses reasonably incurred
by the Company in connection with investigating or defending any such action or claim as
such expenses are incurred.
(c) Promptly after receipt by an indemnified party under subsection (a) or (b) above of
notice of the commencement of any action, such indemnified party shall, if a claim in
respect thereof is to be made against the indemnifying party under such subsection, notify
the indemnifying party in writing of the commencement thereof; but the omission so to notify
the indemnifying party shall not relieve it from any liability which it may have to any
indemnified party otherwise than under such subsection. In case any such action shall be
brought against any indemnified party and it shall notify the indemnifying party of the
commencement thereof, the indemnifying party shall be entitled to participate therein and,
to the extent that it shall wish, jointly with any other indemnifying party similarly
notified, to assume the defense thereof, with counsel satisfactory to such indemnified party
(who shall not, except with the consent of the indemnified party, be counsel to the
indemnifying party), and, after notice from the indemnifying party to such indemnified party
of its election so to assume the defense thereof, the indemnifying party shall not be liable
to such indemnified party under such subsection for any legal expenses of other counsel or
any other expenses, in each case subsequently incurred by such indemnified party, in
connection with the defense thereof other than reasonable costs of investigation. No
indemnifying party shall, without the written consent of the indemnified party, effect the
settlement or compromise of, or consent to the entry of any judgment with respect to, any
pending or threatened action or claim in respect of which indemnification or contribution
may be sought hereunder (whether or not the indemnified party is an actual or potential
party to such action or claim) unless such settlement, compromise or judgment (i) includes
an unconditional release of the indemnified party from all liability arising out of such
action or claim and (ii) does not include a statement as to or an admission of fault,
culpability or a failure to act, by or on behalf of any indemnified party.
(d) If the indemnification provided for in this Section 7 is unavailable to or
insufficient to hold harmless an indemnified party under subsection (a) or (b)
above in respect of any losses, claims, damages or liabilities (or actions in respect
thereof) referred to therein, then each indemnifying party shall contribute to the amount
paid or payable by such indemnified party as a result of such losses, claims, damages or
liabilities (or actions in respect thereof) in such
25
proportion as is appropriate to reflect
the relative benefits received by the Company on the one hand and the Underwriters of the
Securities on the other from the offering of the Securities to which such loss, claim,
damage or liability (or action in respect thereof) relates. If, however, the allocation
provided by the immediately preceding sentence is not permitted by applicable law or if the
indemnified party failed to give the notice required under subsection (c) above, then each
indemnifying party shall contribute to such amount paid or payable by such indemnified party
in such proportion as is appropriate to reflect not only such relative benefits but also the
relative fault of the Company on the one hand and the Underwriters of the Securities on the
other in connection with the statements or omissions which resulted in such losses, claims,
damages or liabilities (or actions in respect thereof), as well as any other relevant
equitable considerations. The relative benefits received by the Company on the one hand and
such Underwriters on the other shall be deemed to be in the same proportion as the total net
proceeds from such offering (before deducting expenses) received by the Company bear to the
total underwriting discounts and commissions received by such Underwriters. The relative
fault shall be determined by reference to, among other things, whether the untrue or alleged
untrue statement of a material fact or the omission or alleged omission to state a material
fact relates to information supplied by the Company on the one hand or such Underwriters on
the other and the parties’ relative intent, knowledge, access to information and opportunity
to correct or prevent such statement or omission. The Company and the Underwriters agree
that it would not be just and equitable if contribution pursuant to this subsection (d) were
determined by pro rata allocation (even if the Underwriters were treated as one entity for
such purpose) or by any other method of allocation which does not take account of the
equitable considerations referred to above in this subsection (d). The amount paid or
payable by an indemnified party as a result of the losses, claims, damages or liabilities
(or actions in respect thereof) referred to above in this subsection (d) shall be deemed to
include any legal or other expenses reasonably incurred by such indemnified party in
connection with investigating or defending any such action or claim. Notwithstanding the
provisions of this subsection (d), no Underwriter shall be required to contribute any amount
in excess of the amount by which the total price at which the applicable Securities
underwritten by it and distributed to the public were offered to the public exceeds the
amount of any damages which such Underwriter has otherwise been required to pay by reason of
such untrue or alleged untrue statement or omission or alleged omission. No person guilty
of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be
entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation. The obligations of the Underwriters of Securities in this subsection (d)
to contribute are several in
proportion to their respective underwriting obligations with respect to such Securities
and not joint.
(e) The obligations of the Company under this Section 7 shall be in addition to any
liability which the Company may otherwise have and shall extend,
26
upon the same terms and
conditions, to each person, if any, who controls any Underwriter within the meaning of the
Act; and the obligations of the Underwriters under this Section 7 shall be in addition to
any liability which the respective Underwriters may otherwise have and shall extend, upon
the same terms and conditions, to each officer and director of the Company and to each
person, if any, who controls the Company within the meaning of the Act.
8. Underwriter Default. (a) If any Underwriter shall default in its
obligation to purchase the Securities that it has agreed to purchase hereunder, the
Representative may in its discretion arrange for the non-defaulting Underwriters or another
party or other parties to purchase such Securities on the terms contained herein. If within
thirty-six hours after such default by any Underwriter the Representative does not arrange
for the purchase of such Securities, then the Company shall be entitled to a further period
of thirty-six hours within which to procure another party or other parties satisfactory to
you to purchase such Securities on such terms. In the event that, within the respective
prescribed periods, the Representative notifies the Company that they have so arranged for
the purchase of such Securities, or the Company notifies you that it has so arranged for the
purchase of such Securities, the Representative or the Company shall have the right to
postpone the Closing Date for a period of not more than seven days in order to effect
whatever changes may thereby be made necessary in the Final Prospectus, or in any other
documents or arrangements, and the Company agree to prepare promptly any amendments to the
Final Prospectus that in the opinion of the Representative may thereby be made necessary.
(b) If, after giving effect to any arrangements for the purchase of the Securities of a
defaulting Underwriter or Underwriters by the Representative and the Company as provided in
subsection (a) above, the aggregate principal amount of such Securities that remains
unpurchased does not exceed one-eleventh of the aggregate principal amount of all the
Securities, then the Company shall have the right to require each non-defaulting Underwriter
to purchase the principal amount of Securities that such Underwriter agreed to purchase
hereunder and, in addition, to require each non-defaulting Underwriter to purchase its pro
rata share (based on the principal amount of Securities that such Underwriter agreed to
purchase hereunder) of the Securities of such defaulting Underwriter or Underwriters for
which such arrangements have not been made; but nothing herein shall relieve a defaulting
Underwriter from liability for its default.
(c) If, after giving effect to any arrangements for the purchase of the Securities of a
defaulting Underwriter or Underwriters by the Representative and
the Company as provided in subsection (a) above, the aggregate principal amount of
Securities that remains unpurchased exceeds one-eleventh of the aggregate principal amount
of all the Securities, or if the Company shall not have exercised the right described in
subsection (b) above to require non-defaulting Underwriters to purchase Securities of a
defaulting Underwriter or Underwriters,
27
then this Underwriting Agreement shall thereupon
terminate, without liability on the part of any non-defaulting Underwriter or the Company,
except for the expenses to be borne by the Company and the Underwriters as provided in
Section 5(g) hereof and the indemnity and contribution agreements in Section 7 hereof; but
nothing herein shall relieve a defaulting Underwriter from liability for its default.
9. Representations and Indemnities to Survive. The respective agreements,
representations, warranties, indemnities and other statements of the Company or its officers and of
the Underwriters set forth in or made pursuant to this Underwriting Agreement will remain in full
force and effect, regardless of any investigation made by or on behalf of any Underwriter or the
Company or any of the officers, directors or controlling persons referred to in Section 7 hereof,
and will survive delivery of and payment for the Securities.
10. Termination. If this Underwriting Agreement shall be terminated pursuant to
Section 8 hereof, the Company shall not then be under any liability to any Underwriter except as
provided in Sections 5(g) and 7 hereof; but, if for any other reason the Securities are not
delivered by or on behalf of the Company as provided herein, the Company will reimburse the
Underwriters through the Representative for all out-of-pocket expenses approved in writing by you,
including fees and disbursements of counsel, reasonably incurred by the Underwriters in making
preparations for the purchase, sale and delivery of the Securities not delivered, but the Company
shall then be under no further liability to any Underwriter in respect of the Securities not so
delivered except as provided in Sections 5(g) and 7 hereof.
11. Notices. All communications under this Underwriting Agreement will be in writing
and effective only on receipt, and, if sent to the Representative, will be mailed, delivered or
telefaxed to the Representative at Xxxxxxx Sachs (Asia) L.L.C., 00/X Xxxxxx Xxxx Xxxxxx, 0 Xxxxxx
Xxxx, Xxxxxxx, Xxxx Xxxx, attention of Legal Department (fax no.: (000) 0000-0000); or, if sent to
the Company, will be mailed, delivered or telefaxed to the Legal Department (fax no.: (00)
0000-0000) and confirmed to it at 00 Xxxxxxxxx Xxxxxxxxxx Xxxx X, Xxxxxx 0, Xxxxxxxxx 000000,
Attention: Legal Department.
12. Successors. This Underwriting Agreement will inure to the benefit of and be
binding upon the parties hereto and their respective successors and the officers, directors,
employees, agents and controlling persons referred to in Section 7 hereof, and no other person will
have any right or obligation under this Underwriting Agreement.
13. Jurisdiction. (a) The Company agrees that any suit, action or proceeding
against the Company brought by any Underwriter, by the directors, officers, employees and
agents of any Underwriter or by any person who controls any Underwriter, arising out of or
based upon this Underwriting Agreement or the transactions contemplated hereby may be
instituted in any New York Court; and waives any objection which it may now or hereafter
have to the laying of venue of
28
any such proceeding, and irrevocably accepts and submits to
the non-exclusive jurisdiction of such courts in any suit, action or proceeding. The Company
has appointed Chartered Semiconductor Manufacturing, Inc., at 0000 XxXxxxxxxx Xxxxx,
Xxxxxxxx, Xxxxxxxxxx 00000 as its authorized agent (the “Company’s Authorized Agent”), upon
whom process may be served in any suit, action or proceeding arising out of or based upon
this Underwriting Agreement or the transactions contemplated herein which may be instituted
in any New York Court by any Underwriter, by the directors, officers, employees and agents
of any Underwriter or by any person who controls any Underwriter and expressly accepts the
non-exclusive jurisdiction of any such court in respect of any such suit, action or
proceeding. The Company consents to process being served in any action or proceeding by
mailing a copy thereof by registered or certified mail to the Company’s Authorized Agent.
The Company hereby represents and warrants that the Company’s Authorized Agent has accepted
such appointment and has agreed to act as said agent for service of process, and the Company
agrees to take any and all action, including the filing of any and all documents that may be
necessary to continue such appointment in full force and effect as aforesaid. Service of
process upon the Company’s Authorized Agent shall be deemed, in every respect, effective
service of process upon the Company. Notwithstanding the foregoing, any action arising out
of or based upon this Underwriting Agreement may be instituted by any Underwriter, by the
directors, officers, employees and agents of any Underwriter or by any person who controls
any Underwriter, in any other court of competent jurisdiction, including those in Singapore.
(b) The Company and each of the Underwriters hereby irrevocably waives, to the fullest
extent permitted by applicable law, any and all right to trial by jury in any legal
proceeding arising out of or relating to this Underwriting Agreement or the transactions
contemplated hereby.
(c) Each of the Underwriters agrees that any suit, action or proceeding against the
Underwriters brought by the Company, its directors, its officers who sign the Registration
Statement or any person who controls the Company, arising out of or based upon this
Underwriting Agreement or the transactions contemplated hereby may be instituted in any New
York Court; and waives any objection which it may now or hereafter have to the laying of
venue of any such proceeding, and irrevocably accepts and submits to the non-exclusive
jurisdiction of such courts in any suit, action or proceeding. The Underwriters have
appointed Xxxxxxx, Xxxxx & Co., at 00 Xxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 as their
authorized agent (the “Underwriters’ Authorized Agent”), upon whom process
may be served in any suit, action or proceeding arising out of or based upon this
Underwriting Agreement or the transactions contemplated herein which may be instituted in
any New York Court by the Company, its directors, its officers who sign the Registration
Statement or any person who controls the Company and expressly accepts the non-exclusive
jurisdiction of any such court in respect of any such suit, action or proceeding. The
Underwriters consent to process being
29
served in any action or proceeding by mailing a copy thereof by registered or
certified mail to the Underwriters’ Authorized Agent. The Underwriters hereby represent and
warrant that the Underwriters’ Authorized Agent has accepted such appointment and has agreed
to act as said agent for service of process, and the Underwriters agree to take any and all
action, including the filing of any and all documents that may be necessary to continue such
appointment in full force and effect as aforesaid. Service of process upon the
Underwriters’ Authorized Agent shall be deemed, in every respect, effective service of
process upon the Underwriters. Notwithstanding the foregoing, any action arising out of or
based upon this Underwriting Agreement may be instituted by the Company, its directors, its
officers who sign the Registration Statement or any person who controls the Company, in any
other court of competent jurisdiction, including those in Singapore.
(d) The provisions of this Section 13 shall survive any termination of the Underwriting
Agreement, in whole or in part.
14. Applicable Law. This Underwriting Agreement will be governed by and construed in
accordance with the law of the State of New York.
15. Currency. In respect of any judgment or order given or made for any amount due
hereunder that is expressed and paid in a currency (the “judgment currency”) other than United
States dollars, the Company will indemnify each Underwriter against any loss incurred by such
Underwriter as a result of any variation as between (i) the rate of exchange at which the United
States dollar amount is converted into the judgment currency for the purpose of such judgment or
order and (ii) the rate of exchange at which an Underwriter is able to purchase United States
dollars with the amount of judgment currency actually received by such Underwriter. The foregoing
indemnity shall constitute a separate and independent obligation of the Company and shall continue
in full force and effect notwithstanding any such judgment or order as aforesaid. The term “rate
of exchange” shall include any premiums and costs of exchange payable in connection with the
purchase of or conversion into United States dollars.
16. Waiver of Immunity. To the extent that the Company has or hereafter may acquire
any immunity (sovereign or otherwise) from any legal action, suit or proceeding, from jurisdiction
of any court or from set-off or any legal process (whether service or notice, attachment in aid or
otherwise) with respect to itself or any of its property, the Company hereby irrevocably waives and
agrees not to plead or claim such immunity in respect of its obligations under this Underwriting
Agreement.
17. Counterparts. This Underwriting Agreement may be signed in one or more
counterparts, each of which shall constitute an original, and all of which together shall
constitute one and the same agreement.
30
18. Entire Agreement. This Underwriting Agreement supersedes all prior agreements and
understandings (whether written or oral) between the Company and the Underwriters, or any of them,
with respect to the subject matter hereof.
19. Headings. The section headings used in this Underwriting Agreement are for
convenience only and shall not affect the construction hereof.
20. Definitions. The terms which follow, when used in this Underwriting Agreement,
shall have the meanings indicated.
“Act” shall mean the United States Securities Act of 1933, as amended, and the rules
and regulations of the Commission promulgated thereunder.
“Base Prospectus” shall mean the prospectus referred to in paragraph (a) of Section 1
above contained in the Registration Statement at the Effective Date.
“Business Day” shall mean each Monday, Tuesday, Wednesday, Thursday and Friday that is
not a day on which banking institutions in The City of New York, New York or Singapore are
authorized or obligated by law, executive order or regulation to close.
“Commission” shall mean the Securities and Exchange Commission.
“Disclosure Package” shall mean (i) any Preliminary Prospectus, (ii) the Issuer Free
Writing Prospectuses, if any, identified in Schedule 2 hereto, and (iii) any other free
writing prospectus that the parties hereto shall hereafter expressly agree in writing to
treat as part of the Disclosure Package.
“Effective Date” shall mean each date and time that the Registration Statement, any
post-effective amendment or amendments thereto and any Rule 462(b) Registration Statement
became or become effective.
“Exchange Act” shall mean the United States Securities Exchange Act of 1934, as
amended, and the rules and regulations of the Commission promulgated thereunder.
“Execution Time” shall mean March 30, 2006 at 9:35AM (New York time), the time at which
this Underwriting Agreement was executed and delivered by the parties hereto.
“Final Prospectus” shall mean the prospectus supplement relating to the Securities that
was first filed pursuant to Rule 424(b) after the Execution Time, together with the Base
Prospectus.
31
“Free Writing Prospectus” shall mean free writing prospectus, as defined in Rule 405.
“Issuer Free Writing Prospectus” shall mean an issuer free writing prospectus, as
defined in Rule 433.
“New York Courts” shall mean the U.S. Federal or State courts located in the State of
New York, County of New York.
“Ordinary Share” shall mean any ordinary share of the Company.
“Preliminary Prospectus” shall mean any preliminary prospectus supplement to the Base
Prospectus which describes the Securities and the offering thereof and is used prior to
filing of the Final Prospectus, together with the Base Prospectus.
“Registration Statement” shall mean the registration statement referred to in paragraph
(a) of Section 1 above, including exhibits, financial statements and any documents
incorporated by reference, as amended at the Execution Time and, in the event any
post-effective amendment thereto or any Rule 462(b) Registration Statement becomes effective
prior to the Closing Date, shall also mean such registration statement as so amended or such
Rule 462(b) Registration Statement, as the case may be.
“Rule 158, “Rule 164,” “Rule 172,” “Rule 405,” “Rule 415,” “Rule 424,” “Rule 430B,”
“Rule 433” and “Rule 462” refer to such rules under the Act.
“Rule 430B Information” shall mean information permitted to be omitted from a
prospectus pursuant to Rule 430B.
“Rule 462(b) Registration Statement” shall mean a registration statement and any
amendments thereto filed pursuant to Rule 462(b) relating to the offering covered by the
registration statement referred to in paragraph (a) of Section 1 hereof.
“Subsidiary” shall mean each of Chartered Semiconductor Manufacturing Inc. and CSP.
“U.S.” or “United States” shall mean the United States of America (including the states
thereof and the District of Columbia), its territories, its possessions and other areas
subject to its jurisdiction.
“Underwriting Agreement” shall mean this agreement relating to the sale of the
Securities by the Company to the Underwriters.
32
If the foregoing is in accordance with your understanding of our agreement, please sign and
return to us the enclosed duplicate hereof, whereupon this letter and your acceptance shall
represent a binding agreement among the Company and the several Underwriters.
Very truly yours, Chartered Semiconductor Manufacturing Ltd |
||||
By: | /s/ Xxxxxx Xxxxxx | |||
Name: | Xxxxxx Xxxxxx | |||
Title: | Senior Vice President & Chief Financial Officer | |||
The foregoing Agreement is hereby
confirmed and accepted as of the
date first above written.
confirmed and accepted as of the
date first above written.
Xxxxxxx Xxxxx (Singapore) Pte.
By
|
/s/ Xxx Xxxxxxxx
|
|||
Title: Managing Director |
For itself and the other
Underwriters named in Schedule 1
to this Underwriting Agreement.
Underwriters named in Schedule 1
to this Underwriting Agreement.
33
SCHEDULE 1
Principal | ||||||||
amount of the | ||||||||
Underwriter | Securities | |||||||
Xxxxxxx
Sachs (Singapore) Pte. |
$ | 300,000,000 | ||||||
Total |
$ | 300,000,000 |
SCHEDULE 2
Schedule of Free Writing Prospectuses included in the Disclosure Package
1. | Final Term Sheet dated March 30, 2006, filed with the Securities and Exchange Commission on March 30, 2006. |
Appendix A
Form of Xxxxx & Xxxxxxxx Opinion
Appendix B
Form of Xxxxxx & Xxxxxxx Opinion